NEWSLETTER: Banking Sector – Issue 89

27 August 2021

Publications

Welcome to Issue 89 of our Banking Sector Newsletter.

In this issue, APRA has finalised its approach to licensing and supervising new authorised deposit-taking institutions. APRA’s updated approach includes stronger requirements for being granted a banking licence and closer supervision of new entrants.

Also in this issue, Federal Parliament has passed new laws allowing digital signatures on documents until 31 March 2022 in response to the COVID-19 pandemic. The laws enable, among other things, companies to sign and execute documents, hold meetings, provide notices relating to meetings and keep minutes using electronic means or other alternative technologies. The changes are similar to the temporary measures introduced in 2020. The government has said that it will look to bring in permanent reforms later this year.

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